Buyers are more powerful than sellers at the beginning of the weekend, according to CoinMarketCap.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.49% over the last 24 hours.
On the hourly chart, the rate of BTC is in the middle of the local channel, between the support of $76,230 and the resistance of $76,666.
As neither side is dominating, ongoing sideways trading around the current prices is the more likely scenario until the end of the day.
On the bigger time frame, one should pay attention to the nearest level of $76,900. If buyers’ pressure continues, there is a chance of a resistance breakout followed by a test of a new all-time high.
From the midterm point of view, there are no correction signals yet. If the weekly bar closes far from the $73,881 level and with no long wick, the growth may continue to the $80,000 mark.
Bitcoin is trading at $76,522 at press time.
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